Len Lane sits down with Bart Paterson, Business Development Manager at Manulife, to explore the often-overlooked importance of life and disability insurance in the mortgage process. While many clients are familiar with default and title insurance that protect the lender and the property, Len and Bart emphasize that life and disability insurance protect the client by insuring their health, income, and long-term investment.

Bart explains Manulife’s Mortgage Protection Plan (MPP), a flexible, portable insurance solution with fixed premiums that can provide peace of mind for homeowners facing unexpected life events, especially new homeowners. He shares sobering statistics, such as the fact that one in two Canadians will be diagnosed with cancer, and the average disability lasts around 10 months—yet most people only have enough savings to cover one month.

Len and Bart also discuss the dangers of relying solely on employer-provided insurance, which often only covers a portion of income and may not be portable. They stress the need to have insurance conversations early in the mortgage process and address common objections like cost, helping clients understand that peace of mind and protection from financial hardship are well worth the investment. Whether you're a mortgage broker or a homeowner, this episode highlights why protecting your mortgage with the right insurance is an essential part of smart financial planning.

About Bart Paterson

Bart Paterson is the Business Development Manager at Manulife for Mortgage Protection in Alberta and Saskatchewan. He brings experience from previous roles at Manulife Bank of Canada.

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Contact Len Lane | Brokers for Life:

• BrokersForLife.ca
• LinkedIn: Len Lane
• LinkedIn: Brokers for Life
• Facebook: Brokers for Life
• X: @Brokers4Life
  
  

Contact Bart Paterson | Manulife:

• Facebook: Bart Paterson - Mortgage Architects
• LinkedIn: Bart Paterson